NEW YORK, May 29, 2013 /PRNewswire/ -- Dolat Ventures Inc. (OTCQB: DOLV) announced today that the Company has engaged a marketing and market development advisory services with experience in the engineering, technology and marketing fields to act as chief executive officer/chief technology officer.
The 52-year-old affiliate of Advanced Merriment, Matthew Merriam has held key roles at AOL, About.com, Thomson Financial Services and several startups. Mr. Merriam is educated as a physical scientist and has a unique understanding of graphics and visual communications which puts him at the forefront of digital technology.
DOLV has been looking for a new CEO since the Company is seeking to enter the Coltan, Timber and Online Marketing sectors. "This has been a great decision for me to make. DOLV has many great business attributes which I can assist in creating revenue growth and increasing shareholder value," Merriam said.
Merriam, developed a unique niche between product management and corporate M&A by evaluating acquisitions and integrating them into AOL. He later performed the same function as VP of Corporate Development at About.com. His key accomplishment includes product management of the network technology development and acquisitions strategies for AOL Games which was sold to Electronic Arts for over $400MM. At Thomson Financial Services, Merriam's group created the world's first free real time quotes site ThomsonRTQ.com in close collaboration with the SEC. ThomsonRTQ was functional within 90 days and grossed over $15MM in its first year. The same quotes engine and user interface is still used to deliver quotes on YAHOO! Finance and many other sites. In 2000, he founded Rivalworks.com and in less than six months his team had launched an operational online games site and sold About.com before its first anniversary. In recent years he's been active developing mobile apps including leading a team at GoAmerica to develop the first wireless web portal for the BlackBerry and helping launch various applications with partners such as Sony, Sierra Wireless, Intermec, and others. "From his CV, it looks a good fit. His biggest challenge will be to assert DOLV amongst the tough competition and build revenues that create profits," said Dovid Hauck, President of DOLV.
Dovid Hauck, President of Dolat Ventures stated, "We hope that our future with Mr Merriam will assist with the potential of DOLV's coltan, timber, technology and diamond projects. The Company continues to focus on expanding its diamond resources at the Baimbawai Pool on the Sewa River, which has shown exciting potential to date and I look forward to updating shareholders as we progress."
DOLV issued 1,000,000 shares upon signing the 12-month agreement. Each month DOLV will pay $5,000, half of which is payable in stock and half in shares. Mr. Merriam is entitled to a success fee upon any m&a or financing which he arranges. The agreement can be terminated by DOLV upon notice.
About Dolat Ventures Inc. (OTCQB: DOLV) www.dove-diamonds.com Dolat Ventures Inc. through its wholly owned subsidiary Dove Diamonds & Mining intends to sell, market, cut and distribute its diamonds and gems around the world. Dolat's Millenium Mining is located in the Sewa River, located in the heart of Sierra Leone, West Africa formed by the junction of the Bagbe and Bafi rivers; it flows 150 mi (240 km) to join the Waanje River and form the Kittam, which empties into the Atlantic Ocean. The country's most important commercial river, it has historically produced the bulk of Sierra Leone's diamond exports. The company intends to wholesale its rough and uncut diamonds globally. DOLV's Timber Subsidiary - announced Feb. 1, 2013, http://www.otcmarkets.com/stock/DOLV/news - Dolat Ventures is expected to enter into a timber operation located in the Kono district of Sierra Leone. The Company is currently investigating a 45k acre project which is expected to produce up to $150,000 to $200,000 a month once in operation. The license has already been issued and DOLV is currently in negotiations to begin operations upon complete due diligence. DOLV's soon to be formed Coltan Subsidiary - Definition: Columbite-tantalite, (Fe,Mn)(Nb,Ta)2O6, or coltan, is a metallic ore found in Australia, Canada, Brazil, and central Africa. After refinement, coltan yields metallic tantalum (Ta), a heat-resistant powder capable of holding high electrical charge. Tantalum is used in the manufacture of numerous electronics including cell phones, pagers, and computers. DOLV is currently putting together a one ton sample for a potential buyer and is seeking to put together the coltan production mining operation starting at 1 container per month. DOLV's soon to be launched Diamond Exchange and Technology Subsidiary – DOLV is seeking to launch a state of the art platform for creating and distributing a sales / auctioning / trading platform for the Diamond & GEM industry. DOLV is to provide a simple and easy to use platform for both Wholesale & Retail traders and eventually retail customers.
Forward-Looking Statements This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission.
These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
Dovid Hauck, President
SOURCE Dolat Ventures Inc.